Cap 485I rule 4 Requirements as to making of winding up applications (MANDATORY PROVIDENT FUND SCHEMES (WINDING UP) RULES; MANDATORY PROVIDENT FUND SCHEMES ORDINANCE)

Contents of Section

Chapter:	485I	Title:	MANDATORY PROVIDENT FUND SCHEMES (WINDING UP) RULES	Gazette Number:	L.N. 343 of 2000
Rule:	4	Heading:	Requirements as to making of winding up applications	Version Date:	01/12/2000

(1) A winding up application must be made by originating summons.
(2) A winding up application must be accompanied by-

(a) an affidavit of a designated person as defined in section 6F(2) of the Ordinance; and

(b) a winding up proposal.

(3) The affidavit referred to in subrule (2)(a) must-

(a) state the grounds for making the winding up application; and

(b) verify the facts on which the application is based.

(4) The winding up proposal referred to in subrule (2)(b)-

(a) must specify whether or not there are any scheme assets in the registered scheme to which the application relates and, if there are, the proposed arrangements for transferring, realizing or disposing of those assets;

(b) must specify whether or not there are any remaining scheme members in that scheme and, if there are, the proposed arrangements for transferring existing accrued benefits of those members to another registered scheme and for making future contributions; and

(c) may contain proposals on other aspects of the winding up, including arrangements in a case where the Court does not appoint a liquidator.